SILVER PROJECT IN THE PRECIOUS METAL BELT OF DURANGO, MEXICO
INTRODUCTION
In July 2007, EXMIN entered into an option agreement to explore the Pino project in the Tepehuanes district of Durango, Mexico. The project consists of five concessions covering approximately 5,500 hectares in the Sierra Madre Occidental and is located near several other projects being explored or mined by Canadian junior resource companies, including Guanacevi (Endeavor Silver), Topia (Great Panther Resources) and Tahuehueto (Soho Resources).
The optioned concessions cover mine workings that were developed on a large vein system with high silver grades, probably in the 1800’s and 1900’s. Reconnaissance sampling by EXMIN field crews yielded as much as 1,275 grams per metric ton (g/t) silver from mine dumps and 1,010 and 649 g/t silver over 0.5 and 2.5 metre vein widths. Samples also contain as much as 20% lead and 3.87% zinc. The mine is accessible by good gravel road and, to EXMIN’s knowledge, has never been systematically explored or drilled.
GEOLOGY
The Pino mine consists of several workings that were developed on a large vein system over about 1,000 metres along strike and for 3 levels over about 100 vertical metres. There are also numerous small exploration workings along the vein system. Based on the work performed by EXMIN, it appears that only the upper levels of the vein were partly mined, but there is potential for several hundred metres of vertical extent underneath the lowest mine level and along strike.
Exploration fieldwork is underway at the property in anticipation of a drill program in early 2008. Mapping and sampling of the mine workings and surface exposures is largely complete.
The main adit level of the Pino mine explored the vein for about 400 metres along strike and several large open stopes reached the surface. Significant silver values were encountered at all levels of exposure and along strike. There is also significant lead and locally zinc in the samples. A large alteration zone that may be related to a separate parallel vein system was also identified. EXMIN staked a 5,000 hectare concession over this alteration zone and along the strike extension of the Pino vein, as well as two other prospect areas that recently became available. Regional exploration work on these areas is in progress.
Click here to view Assays from the Pino Mine Area
